Rocket Reaction Reaction

From RLV and Space Transport News at HobbySpace: Alan Boyle reports on some doubts expressed about the Rocket Racing League debut: Rocket reaction – Cosmic Log/MSNBC – Oct.5.05.
I don’t understand why a RRL event should be considered as anything but a new class of air race. At this year’s Reno Air Race the winner of the “Unlimited Class” event averaged 466.298 mph around the course. The first generation Mark 1 X-Racers will “reach maximum speeds of more than 320 mph”. Why should the FAA treat the X racers any differently than these other, faster vehicles simply because they are powered by rockets engines?
The Reno Air Race also seems to be doing fine as far as attracting spectators. Air shows in general attract millions of spectators every year despite the fact that most of the action takes place “high in the air over long distances”.